U.S. Treasury Market Likely Witnessing Light Buyers' Strike
Dow Jones
Sep 28
0519 GMT - The U.S. Treasury market is going through a light buyers' strike, says Jason Williams at Citi in a note. Last Wednesday's strong PMI print added fuel to the fire, while Federal Reserve speeches remained very hawkish last week, "likely keeping buyers at bay," the strategist says. "Continued hawkish rhetoric has us wondering why the SEP [Summary of Economic Projections] dot plot was not more hawkish given the median implied one more hike," he says. U.S. Treasury yields rise in Asian trade with the 10-year yield up 2.8 basis points to 5.208%, according to Tradewb.
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